Results as at 30 June 2005

Transcription

1 Results as at 30 June

2 BNP Paribas: Disclaimer All growth rates and comparisons indicated in this presentation are on a comparable accounting standard basis, except where expressly provided otherwise. These figures come from a comparison of Q2 and H results calculated on the basis of IFRS accounting standards as adopted by the European Union for 2005 and a simulated restatement of Q and H results on the basis of these same accounting standards. The corresponding simulated figures have not been audited. Results Disclaimer 2

3 Presentation Overview Group Results Core Businesses Results A Global Group, Growing Faster Corporate Governance Conclusion 3

4 Excellent Operating Performances (excluding BNP Paribas Capital) Net Banking Income +10.0% Gross Operating Income +12.4% Operating Income +25.6% BNP Paribas: 1 st Half 2005 Cost/Income 60.9% (-0.8 pt) Sharp Rise in Profitability Net Income Group Share 3,176mn (+27.5%) Annualised ROE after tax 21.8% (+2.8 pts) Stable Tier 1 ratio 7.5% Results Group Results 4

5 Sharp Rise in Earnings per Share Book value per share Earnings per share* % in euros 31 Dec EU-IFRS Group share of net equity not re-evaluated 30 June 2005 Valuation reserves divided by the number of shares outstanding in euros 1H04 EU-IFRS 1H05 * EPS undiluted, based on the average number of shares outstanding Results Group Results 5

6 BNP Paribas in the 2 nd Quarter 2005 In millions of euros 2Q05 2Q05 / 2Q04 EU-IFRS Net Banking Income 5, % Operating Ex penses and Dep. -3, % Gross Operating Income 1, % Prov isions % Operating Income 1, % Net Income, Group Share 1, % Excluding BNP Paribas Capital: NBI: +6,5 % Op Exp: +8,3% GOI: +3,7 % OI: +14,5 % Limited capital gains under NBI generated from private equity and industrial portfolios NBI of BNP Paribas Capital: 24mn compared to 174mn in 2Q04 Realised gains on the industrial portfolio of listed companies: - 1mn compared to 61mn in 2Q04 Total core businesses NBI: +9.1% Operating Exp. & Deprec.: +7.8% GOI: +11.1% Results Group Results 6

7 Sharp Rise in the Income and Results for all the Core Businesses Net banking income and Operating expenses Operating income 2Q05 / 2Q04* NBI Operating expenses 2Q05 / 2Q04* Operating income Retail Banking +7.8% +7.1% Retail Banking +20.2% AMS +12.9% +12.8% AMS +12.2% CIB +9.3% +6.2% CIB +28.4% Total core businesses +9.1% +7.8% Total core businesses +21.6% *2Q04 EU-IFRS Results Group Results 7

8 Presentation Overview Group Results Core Businesses Results A Global Group, Growing Faster Corporate Governance Conclusion 8

9 Retail Banking 2Q05 In millions of euros 2Q05 2Q05 / 2Q04 EU-IFRS Net Banking Income 2, % Operating Ex penses and Dep. -1, % Gross Operating Income 1, % Prov isions % Operating Income % Non Operating Items % Pre-Tax Income % Cost / Income 60.9% -0.4 pt 1H05 1H05/1H04 NBI 5.4bn +9.2% Cost / Income 61.1% -1.2 pt Allocated Equity 10.5bn +9.5% Pre-Tax ROE 35% +4 pt 2,404 2,538 2,528 2,519 2,662 2,736 Quarterly NBI in mn 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 Results Retail Banking 9

10 French Retail Banking 2Q05 In millions of euros 2Q05 2Q05 / 2Q04 EU-IFRS Net Banking Income 1, % Incl. Commissions % Incl. Interest Margin % Operating Ex penses and Dep % Gross Operating Income % Prov isions % Operating Income % Income Attributable to AMS % Pre-Tax Income of French Retail B % 1H05 1H05/1H04 NBI 2.7bn +5.5% Cost/Income 66.6% -1.3 pt Allocated Equity 5.0bn +8.5% Pre-Tax ROE 31% +3 pt Cost / Income 66.9% +0.6 pt Including 100% of French private banking from NBI to Operating Income Continued buoyant business activity reported in 1Q05 Fees: +8.1%/2Q04 (including +14.5% for fees on investment funds and transactions) Net interest margin: continued growth in profitable outstanding loans and assets on deposits quarterly volatility in the Home Ownership Savings Plans and Accounts provision NBI Growth Trend: 5% growth forecast in 2H05 Confirmed decline in cost of risk: 22 bp in 2Q05 (39 bp in 2Q04 and 23 bp in 1Q05) Results French Retail Banking 10

11 FRB: Individuals Customers Increase in the number of individual cheque and deposit accounts +74, , , ,700 1H02 1H03 1H04 1H05 Sustained growth in loans outstanding Mortgage lending: +22.4%/2Q04, growth comparable to that in 1Q05 Consumer lending: +8.4%/2Q04, growth greater than that in 1Q05 Very strong performance in savings inflows in 2Q05 Life insurance: 1.7bn, +28%/2Q04 Mutual funds: 1.2bn, +36%/2Q04 Results French Retail Banking 11

12 FRB: Corporate Segment 12.3% growth in outstanding loans compared to 2Q04, better than the market average (5.2%) continued to apply the same profitability and risk criteria Outstanding Business Loans in bn 1Q02 2Q02 3Q02 4Q02 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 Cross-selling still growing strong across all the business lines interest rate and foreign exchange derivatives: +40%/1H04 structured financing: +60%/1H04 Results French Retail Banking 12

13 In millions of euros 2Q05 2Q05 / 2Q04 EU-IFRS Net Banking Income 1, % Operating Ex penses and Dep % Gross Operating Income % Prov isions % Operating Income % Non Operating Items % Pre-Tax Income % Cost / Income 55.0% -1.1 pt International Retail Banking and Financial Services: 2Q05 1H05 1H05/1H04 NBI 2.8bn +13.3% Cost/Income 55.5% -0.7 pt Allocated Equity 5.5bn +10.4% Pre-Tax ROE 39% +4 pt At constant scope and exchange rates: NBI : +5.2%, Operating expenses: +2.2% ; GOI : +8.8% A fast growing core business: NBI +13.4%/2Q04 1,357 1,434 Quarterly NBI 1,200 1,264 1,268 1,282 in mn 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 Results International retail Banking and Financial Services 13

14 IRFS: Leading Positions, Strong Growth A leader in financial services in Europe A strong presence in retail banking in the western United States Sources of additional growth in promising regions NBI 2Q05 Other Financial Services +6.4%* 331mn 23% 454mn 32% BancWest +19.2%* * 2Q05/ 2Q04 Cetelem +4.1%* 452mn 32% 191mn 13% Emerging Markets +29.1%* Results International retail Banking and Financial Services 14

15 IRFS: 2Q05 Highlights (1/3) BancWest Pre-tax income: 239mn, %/2Q04 (+8.0% at constant scope and exchange rates) erosion of the interest margin rate (3.66% in 2Q05 compared to 3.88% in 2Q04) due to the flattening of the yield curve fast-growing business: +24.9% on lending (+9.2% at constant scope) and +23.8% on deposits (+8.2% at constant scope) decline in the cost of risk NPLs/Loans: 0.42% compared to 0.52% at 30 June 2004 Successful integrations of Community First and Union Safe Deposit achieved the cost savings forecast ($50mn in 2005) Acquisition* of Commercial Federal Corporation 198 branches, accounts $10.4bn in AuM, $6.5bn in deposits * subject to the approval of CF shareholders and US regulators. Results International retail Banking and Financial Services 15

16 IRFS: 2Q05 Highlights (2/3) Cetelem pre-tax income: 155mn, +29.2%/2Q04 substantial improvement in the combined ratio joint control of Cofinoga* planned, effective 30/09/05 (over 400mn in NBI for the full year**) Combined ratio (Operating expenses and depreciation + cost of risk)/nbi Outstandings outside France End of period in % in bn 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 * Public offer on Galeries Lafayette finalised and approvals from the French banking and financial regulator, CECEI, and from French competition regulator obtained **based on 2004 data Results International retail Banking and Financial Services 16

17 IRFS: 2Q05 Highlights (3/3) Other Financial Services pre-tax income: 116mn, +8.4%/2T04 excellent contributions from Arma and Abbey National France, acquisitions completed in 2004 Emerging and overseas markets pre-tax income: 69 M, +40.8%/2Q04 (+26.5% at constant scope and exchange rates) strong commercial development since the beginning of 2005 Turkey (TEB): opened 3 Trade Centres and 14 branches Maghreb: opened 18 branches Results International retail Banking and Financial Services 17

18 Asset Management and Services 2Q05 In millions of euros 2Q05 2Q05 / 2Q04 EU-IFRS Net Banking Income % Operating Ex penses and Dep % Gross Operating Income % Prov isions -4 n.s. Operating Income % Non Operating Items 53 n.s. Pre-Tax Income % Cost / Income 63.0% -0.1 pt 1S05 1S05/1S04 NBI 1.7bn +14.8% Cost/Income 64.4% +0.7 pt Allocated Equity 3.6bn +14.2% Pre-Tax ROE 36% +2 pt Sharp growth in assets under management (+14.8%) and net banking income (+12.9%) Assets Under Management Quarterly NBI in bn In mn 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 Results Asset Management and Services 18

19 AMS 2Q05: Growth in Each of the Business Lines NBI 2Q05 Insurance +19.6%* 250 mn 28% 442 mn 50% Wealth and Asset Management** +8.6%* Securities Services +15.2%* 190 mn 22% * 2Q05/ 2Q04 **WAM = Private banking + Asset Management + Cortal Consors + Real Estate Services Results Asset Management and Services 19

20 An excellent level of net new inflows 2Q05: 7.2bn ( 3.0 bn in 2Q04) AMS 2Q05: Net Asset Inflows 1H05: 17.0bn ( 8.7 bn in 1H04), +9.9%* of assets under management Net asset inflows 2Q05 (in bn ) Insurance Private Banking and Cortal Consors Asset Management 3.0 *annualised rate Net new inflows excluding cross-selling between the business lines within AMS: 5.4bn in 2Q05 compared to 2.6bn in 2Q04 Results Asset Management and Services 20

21 Wealth & Asset Management AMS: 2Q05 Highlights (1/2) Multimanagement : built a leader in the US and in Europe with close to $30bn in assets under management acquisition of FundQuest* in the US, an open architecture solutions provider: $10bn in assets under management Alternative and structured management: continued growth in assets Alternative and structured products outstandings in bn *Closing scheduled for 3Q05. Figures not incorporated in the business and results. Results Asset Management and Services 21

22 AMS: 2Q05 Highlights (2/2) Insurance France gross inflow of individual savings assets: 2.2bn, +22%/2Q04 31% gross inflow of unit-linked insurance assets as at (compared to 21% for the market) 199 Quarterly Insurance NBI Outside France savings assets: 4.9bn, +17%/2Q04 in mn 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 Securities Services Assets under custody (end of period) sustained growth in business assets under custody: +18%/ number of transactions: +17%/2Q04 2,279 2,291 2,383 2,473 2,621 2,698 in bn 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 Results Asset Management and Services 22

23 In millions of euros 2Q05 2Q05 / 2Q04 EU-IFRS Corporate and Investment Banking: 2Q05 Net Banking Income 1, % Operating Ex penses and Dep % Gross Operating Income % Prov isions 50 n.s. Operating Income % Non Operating Items % Pre-Tax Income % Cost / Income 57.7% -1.6 pt 1H05 1H05/1H04 NBI 3.1bn +9.6% Cost / Income 58.0% -1.6 pt Allocated Equity 8.7bn +26.3% Pre-Tax ROE 34% +2 pt Sustained growth in GOI: +13.7% / 2Q04 A benchmark cost/income ratio Gross Operating Income 59.9% 59.3% 61.0% 63.3% 58.3% 57.7% Cost/Income Ratio 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 Results Corporate and Investment Banking 23

24 CIB Financing Businesses Another sharp rise in income and results NBI: 724mn, +24.4%/2Q04 Fairly stable NBI/RWA ratio beyond the spread fluctuations 2.6% 2.9% 2.8% 2.8% 2.8% 3.0% 2.7% 2.9% 3.1% 2.6% 2.8% * French GAAP EU-IFRS (simulations for 2004) 1H00 2H00 1H01 2H01 1H02 2H02 1H03 2H03 1H04 2H04 1H05 * excluding exceptional capital gains realised in 1Q04 Few new provisions and some provision write-backs mainly in the US Results Corporate and Investment Banking 24

25 CIB Advisory and Capital Markets NBI: 844mn, -1.1%/2Q04 customer business broadly sustained Fixed Income: limited decline in revenues during a period of market turbulences Equities and advisory: growth in business and in income VaR maintained at a low level: 25mn on average in 2Q05 ( 29mn in 2004) Average VaR ( mn), 99%, 1 day Q02 2Q02 3Q02 4Q02 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 Results Corporate and Investment Banking 25

26 Presentation Outline Group Results The Core Businesses Results A Global Group, Growing Faster Corporate Governance Conclusion 26

27 A Global Group, Growing Faster Business commitments 1H05 A global group presence in 85 countries 60% of the commitments outside France United States 22% Others 12% France 40% An accelerated pace of growth Average annual growth rate of the NBI Europe 26% * EU-IFRS excluding BNP Paribas Capital in % /2003 1H05/1H04* Results A Global Group, Growing Faster 27

28 Powerful Platforms in France Retail Banking 10 million individual and professional customers #2 in consumer lending with 15% market share(1) #4 in mortgages with 11% market share(2) #1 in leasing with 20% market share Asset Management and Services #1 in private banking: assets 50.2bn, 97,000 customers #2 in mutual funds with 8.2% market share #4 in life insurance with 8.1% market share #1 in corporate real estate services (1) BNP Paribas branch network and Cetelem combined, Cofinoga not included (2) BNP Paribas branch network and UCB combined Results A Global Group, Growing Faster 28

29 Europe (1/2) A Leader in Multi-local Businesses International Retail Banking and Financial Services #1 consumer lending group in Continental Europe #1 Italy, #3 in Spain and Portugal Central Europe :#1 Hungary, #2 in Romania, #3 in the Czech Republic and Slovakia #2 in leasing equipment #2 in car fleet management Asset Management and Services * Cetelem UCB Arval BPLG Asset Mgt. Private Banking Insurance Cortal Consors BPSS Atisreal #1 Global Custodian #4 in Private Banking #1 in Continental Europe in Corporate real estate services #1 in Online Brokerage and Savings *Acquisition of Nachenius Tjeenk & Co in the Netherlands and ** a company acquired by Findomestic in Serbia, both subject to regulatory approval ** Results A Global Group, Growing Faster 29

30 Europe (2/2) A Leader in Corporate and Investment Banking Fixed Income (bookrunner) #2 Corporate Eurobond Issues (2004) #4 All bonds in euros (1H05) #6 All international Sterling bonds (1H05) Structured Finance (arranger) #2 Leveraged loans (1H05) Equities #2 for convertible bonds (Extel) #1 Research Firm for French Equities (Agefi) Corporate Finance #7 Equity and Equity linked European ECM transaction (1H05) #10 Mergers and Acquisitions - announced deals (1H05) Sources : TF, Dealogic Results A Global Group, Growing Faster 30

31 Four Global Franchises in Corporate and Investment Banking Structured Finance #4 all syndicated credits (Bookrunner) Aircraft Finance House of the Year (Jane s Transport Finance) Best Arranger of Acquisition Financing (EuroWeek) Energy, Commodities Best Commodity Bank (Trade Finance Magazine) Best Trade Bank in Oil, Best Global Trade Finance Provider; Best Structured Commodity Finance Bank (Trade & Forfaiting Review) Project Finance #1 Project Finance (Dealogic 2004) "Best Arranger of Project Financing» (EuroWeek) Derivatives Best provider of Interest rate options (Corporate Finance Magazine) Best Equity Derivatives Provider (Global Finance Magazine, 2004) First Issuer of Equity-Linked MTNs with 25% of global market share (MTN-I) Sources : TF, 2004 & 2005 awards Results A Global Group, Growing Faster 31

32 Corporate and Investment Banking United States (1/2) Stepping up Presence in Financial Markets Fixed Income Top 3 US Treasury Inflation linked Bonds (TradeWeb - 1H05) #10 financial institution investment grade bonds (TF - 1H05)* A growing presence in US Dollar derivatives Equity Derivatives Top 3 in fund derivatives Energy Commodities Export Project #1 US Ex-Im Bank's - Top Lenders ** #4 Oil & Gas Agent (Gold Sheets - 1H05) #2 Natural Gas OTC Dealer for the US and Canada*** Asset Management FFTW : AuM $38 bn fixed-income products institutional clients FundQuest : AuM $10 bn TAMP**** : open architecture solutions provider * Excl self funding ** International Trade Finance Report Excl. Aircraft, Working Cap. & Short-Term Financing *** Energy Risk 2004 ****Turnkey Asset Management Provider Results A Global Group, Growing Faster 32

33 United States (2/2) BancWest: A Growing Retail Franchise 739 branches in 20 states 4.2 million accounts 7th biggest bank in the Western US l A strong franchise in a large and fast growing market (including CF*) l Significant organic and acquisition-driven growth à Since 1999 and before Commercial Federal acquisition: - Loans, deposits x2.7 (Total assets as at 30 June 05: $52.5bn) - Net Income: x2.8 (Net Income 2004: $473m) l Opportunities for further consolidation CFB Branches* & BancWest Branches * subject to the approval of CF shareholders and US regulators. Results A Global Group, Growing Faster 33

34 Sources of Further Growth (1/3) The Mediterranean and Gulf Region Population: 255mn 2004 GDP: $930bn (+6%/ 2003 ) More than 200 branches scheduled to be opened from 2005 to 2007 TUNISIA UBCI 53 branches TURKEY TEB 95 branches LEBANON MOROCCO 5 branches BMCI 157 branches KUWAIT 1 branch ALGERIA 8 branches 10 branches EGYPT QATAR 1 branch BAHRAIN SAUDI ARABIA U.A.E. 1 branch Opened in June 05 2 branches Population and GDP: source Economist Intelligence Unit Results A Global Group, Growing Faster 34

35 Sources of Further Growth (2/3) Asia Corporate and Investment Banking A full-fledged investment banking set-up Capital Markets : Japan - consistently Top 10 in interest rates and Credit derivatives and JGB (Asia Risk - IFR) Japan - #2 for Nikkei 225 index options ( Risk Magazine) PRC - only bank selected as lead arranger for all sovereign issues in euro and US Dollar PRC - license to conduct derivatives business Hong Kong - #3 underwriter HKD debt (IFR - 1H05) Taiwan - #3 house for Forex and interest rates derivatives (Asia Risk) Corporate Finance : Asia (excl Japan) - BNP Paribas Peregrine:Best Mid Cap Equity House 2004 (The - Asset Asia) Financing: Japan - #1 non Japanese bank for Japanese export finance * PRC - licenses to conduct RMB business PRC - Top 2 bookrunner for loans syndications in 2004 (IFR ) Asset Management & Services Private Banking: AuM $14.3bn in Asia Hong Kong, Singapore, India,... Korea: JV in life insurance and asset management with Shinhan Financial Group - AuM $7.2bn India: JV in life insurance with State Bank of India access to 120 million clients * Source: BNP Paribas study based on JBIC and NEXI data Results A Global Group, Growing Faster 35

36 Sources of Further Growth (3/3) Brazil Cetelem Carte Aura: 500,000 clients Corporate and Investment Banking Leader in export finance (ECAs) for Brazilian importers (2004) #4 Project Finance Advisory (ANBI ) Central Bank of Brazil FX dealer: #4 foreign bank * Asset Management and Services Fast growing asset management franchise AuM $4.8bn Top Fixed Income Fund Manager by S&P 2003 & 2004 #8 Private banking player (Euromoney) *Source : Central Bank of Brazil Results A Global Group, Growing Faster 36

37 Presentation Overview Group Results Core Businesses Results A Global Group, Growing Faster Corporate Governance Conclusion Conclusion 37

38 First global ranking by FTSE/International Shareholder Services (April 2005) 2,000 listed companies in 24 countries analysed Corporate Governance: Growing Recognition 60 weighted criteria used, broken down in 5 families structure and independence of the board of directors capital structure and anti-takeover measures corporate officers compensation share capital held by corporate officers and board members independence and integrity of the certification and audit process BNP Paribas #1 in the eurozone and #10 world-wide all business sectors considered Results Corporate Governance 38

39 Presentation Outline Group Results A Global Group, Growing Faster Core Businesses Results Corporate Governance Conclusion Conclusion 39

40 BNP Paribas in the First Half 2005 Strong growth momentum confirmed in all core businesses A global group with an accelerated pace of growth A sharp rise in net earnings per share Results Conclusion 40

41 Annexes 41

42 BNP Paribas Group 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income 5, % -7.7% 10, % Operating Expenses and Dep. -3, % +1.7% -6, % Gross Operating Income 1, % -19.7% 4, % Prov isions % +5.8% % Operating Income 1, % -20.8% 4, % Associated Companies % +41.1% % Extraordinary Items 103 n.s. n.s. 116 n.s. Non Operating Items % n.s % Pre-Tax Income 2, % -15.1% 4, % Tax Expense % -13.9% -1, % Minority Interests % -19.2% % Net Income, Group Share 1, % -15.3% 3, % Cost / Income 61.8% +2.8 pt +5.7 pt 58.8% -1.4 pt Cost/Income without BNP Paribas Capital 62.0% +1.0 pt +2.2 pt 60.9% -0.8 pt ROE after Tax 21.8% +2.8 pt Results Group 42

43 Number of Shares and Earnings per Share Number of Shares in millions 1H H05 Number of Shares (end of period) Number of Shares excluding Treasury Shares (end of period) Average number of Shares outstanding excluding Treasury Shares EPS In euros 2003 * 2004 * Earning Per Share (EPS) Diluted Earning Per Share (Diluted EPS) In euros 1H04 ** 1H05 Earning Per Share (EPS) Diluted Earning Per Share (Diluted EPS) * French GAAP **EU-IFRS simulation Results Group 43

44 Geographic Breakdown of Commitments Africa & Middle East 3% Asia-Pacific 5% Japan 1% Other European Countries 6% Latin America 3% France 40% BancWest 7% North America (excl. BancWest) 15% European Economic Area 20% Gross lending + off balance sheet commitments, unweighted 549bn as at Results Group 44

45 Breakdown of Commitments by Industry Leisure 1% Capital goods 2% Materials 2% Mining 3% Private Individuals 30% B2B 4% Utilities 1% Manufacturing 1% Real Estate 3% Technology 1% Household appliances 2% Energy 2% Sovereign, Local govt. and Finance 17% Retailers 4% Wholesalers 7% Chemicals 3% Gross lending + off balance sheet commitments, unweighted 549bn as at Telecoms 1% Transportation 3% Food 3% Insurance 2% Automotive 2% Others <1% each 4% Construction 2% Results Group 45

46 A Solid Financial Structure 30 June 05 1st Jan. 05 Group share of net equity not re-evaluated Valuation Reserve Total Capital ratio (a) 10.6% 10.1% Tier One ratio (a) 7.5% 7.5% (a) As at 30 June 2005, based on estimated Risk Weighted Assets of E362.7 bn. Ratings S&P AA Stable Outlook Rating upgraded from AA- to AA on 06/07/04 Moody's Aa2 Stable Outlook Rating upgraded from Aa3 to Aa2 on 19/02/02 Fitch AA Stable Outlook Rating upgraded from AA- to AA on 28/11/01 Results Group 46

47 Retail Banking 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income 2, % +2.8% 5, % Operating Ex penses and Dep. -1, % +2.1% -3, % Gross Operating Income 1, % +3.8% 2, % Prov isions % -10.2% % Operating Income % +6.7% 1, % Associated Companies % +42.3% % Other Items % +50.0% % Pre-Tax Income % +7.8% 1, % Cost / Income 60.9% -0.4 pt -0.4 pt 61.1% -1.2 pt Allocated Equity (Ebn) % Pre-Tax ROE 35% +4 pt Results French Retail Banking 47

48 French Retail Banking* 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income 1, % -0.1% 2, % Incl. Commissions % -0.5% 1, % Incl. Interest Margin % +0.1% 1, % Operating Ex penses and Dep % +0.8% -1, % Gross Operating Income % -2.0% % Prov isions % -4.5% % Operating Income % -1.7% % Non Operating Items 0 n.s. n.s. 0 n.s. Pre-Tax Income % -1.7% % Income Attributable to AMS % +0.0% % Pre-Tax Income of French Retail Bkg % -1.8% % Cost / Income 66.9% +0.6 pt +0.6 pt 66.6% -1.3 pt Allocated Equity (Ebn) % Pre-Tax ROE 31% +3 pt *including 100% of French Private Banking in France for line items NBI to pre-tax income Results French Retail Banking 48

49 FRB (1) 2Q05: Fees %Change 2Q05 vs.2q04 In millions of euros Fees: +8.1% Fees on investment funds and transactions: +14.5% Other banking transactions: +5.2% , Q04 2Q04 3Q04 4Q04 1Q05 2Q05 (1) 100% of French Private Banking Results French Retail Banking 49

50 FRB 2Q05: Outstandings In billions of euros Outstandings 2Q05 %Change 1 year 2Q05/2Q04 %Change 1 quarter 2Q05/1Q05 Outstandings 1H05 %Change 1 year 1H05/1H04 LENDINGS (1) Total Loans % +2.9% % Individual Customers % +4.2% % Incl. Mortgages % +4.6% % Incl. Consumer Lending % +2.4% % Corporates % +2.3% % DEPOSITS and SAVINGS (1) % +1.5% % Cheque and Current Accounts % +1.8% % Savings Accounts % +0.8% % Market Rate Deposits % +3.7% % FUNDS UNDER MANAGEMENT (2) Life Insurance % +3.6% % Mutual Funds (3) % +2.7% % (1) Average cash Outstandings (2) Outstandings at the end of the period (3) These statistics do not include mutual funds assets registered in Luxembourg (PARVEST) Results Group 50

51 International Retail Banking and Financial Services 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income 1, % +5.7% 2, % Operating Ex penses and Dep % +3.8% -1, % Gross Operating Income % +8.0% 1, % Prov isions % -12.0% % Operating Income % +13.8% % Associated Companies % +42.3% % Other Items 3 +0,0% +50.0% % Pre-Tax Income % +15.4% 1, % Cost / Income 55.0% -1.1 pt -1.0 pt 55.5% -0.7 pt Allocated Equity (Ebn) % Pre-Tax ROE 39% +4 pt Results International Retail Banking and Financial Services 51

52 BancWest 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income % +8.6% % Operating Ex penses and Dep % +1.9% % Gross Operating Income % +15.2% % Prov isions % -63.6% % Operating Income % +19.6% % Associated Companies 0 n.s. n.s. 0 n.s. Other Items 1 n.s. n.s. 0 n.s. Pre-Tax Income % +20.7% % Cost / Income 46.7% -0.3 pt -3.1 pt 48.2% +1.5 pt Allocated Equity (Ebn) % Pre-Tax ROE 49% -1 pt BancWest and its subsidiaries contribution to the IRFS core business At constant scope and exchange rates: 2Q05/2Q04 NBI + 1.1% Operating Exp. and Dep % Gross Operating Income + 4.6% Pre-Tax Income + 8.0% Results International Retail Banking and Financial Services 52

53 Cetelem 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income % +0.2% % Operating Ex penses and Dep % +3.0% % Gross Operating Income % -2.7% % Prov isions % -9.4% % Operating Income % +3.5% % Associated Companies % +50.0% % Other Items 1 n.s. n.s % Pre-Tax Income % +12.3% % Cost / Income 52.7% +1.1 pt +1.5 pt 51.9% +0.2 pt Allocated Equity (Ebn) % Pre-Tax ROE 38% +6 pt Cetelem and its subsidiaries contribution to the IRFS core business Results International Retail Banking and Financial Services 53

54 Financial Services: Managed Outstandings In billions of euros June-05 March-05 %Change 1 quarter /March-05 June-04 %Change 1 year / June-04 CETELEM % % France % % Outside France % % BNP Paribas Lease Group MT (1) % % France % % Europe (ex cluding France) % % UCB Individuals (1,2) % % France Indiv iduals % % Europe (ex cluding France) % % Long Term Leasing with Services (3) % % France % % Europe (ex cluding France) % % Arval Total Managed Vehicles (in thousands) % % includind financed v ehicles % % (1) Transfer of BPLG residential real estate oustandings of BNP Paribas Invest Immo to UCB from ( 1.5 bn) (2) Including Abbey National France outstandings from ( 2.6 bn). (3) Estimates figures have been modified according to IAS 17. Results International Retail Banking and Financial Services 54

55 Asset Management and Services 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income % +8.5% 1, % Operating Ex penses and Dep % +3.7% -1, % Gross Operating Income % +17.7% % Prov isions -4 n.s. n.s. -7 n.s. Operating Income % +17.5% % Associated Companies 0 n.s. n.s. 0 n.s. Other Items 53 n.s. n.s. 54 n.s. Pre-Tax Income % +36.4% % Cost / Income 63.0% -0.1 pt -2.9 pt 64.4% +0.7 pt Allocated Equity (Ebn) % Pre-Tax ROE 36% +2 pt Results Asset Management and Services 55

56 Wealth and Asset Management WAM = Private Banking + Asset Management + Cortal Consors + Real Estate Services 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income % +8.1% % Operating Ex penses and Dep % +3.1% % Gross Operating Income % +20.5% % Prov isions 0 n.s. n.s. 0 n.s. Operating Income % +20.5% % Associated Companies 0 n.s. n.s. 0 n.s. Other Items 1 n.s. n.s. 2 n.s. Pre-Tax Income % +20.3% % Cost / Income 68.1% -0.2 pt -3.3 pt 69.7% +1.6 pt Allocated Equity (Ebn) % Results Asset Management and Services 56

57 Insurance 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income % +5.5% % Operating Expenses and Dep % +2.7% % Gross Operating Income % +7.9% % Provisions -4 n.s. n.s. -7 n.s. Operating Income % +7.3% % Associated Companies 0 n.s. n.s. 0 n.s. Other Items 52 n.s. n.s. 52 n.s. Pre-Tax Income % +49.6% % Cost / Income 45.6% +1.1 pt -1.2 pt 46.2% +0.4 pt Allocated Equity (Ebn) % Results Asset Management and Services 57

58 Securities Services 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income % +13.8% % Operating Ex penses and Dep % +6.0% % Gross Operating Income % +44.1% % Prov isions 0 n.s. n.s. 0 n.s. Operating Income % +44.1% % Associated Companies 0 n.s. n.s. 0 n.s. Other Items 0 n.s. n.s. 0 n.s. Pre-Tax Income % +44.1% % Cost / Income 74.2% +0.3 pt -5.4 pt 76.8% +0.6 pt Allocated Equity (Ebn) % Results Asset Management and Services 58

59 AMS 2Q05: Total Assets Under Management In billion of euros Private Banking and Cortal Consors ,2 125, Assets Management Insurance , Including cross-selling between the business lines within AMS Results Asset Management and Services 59

60 AMS 1H05: Assets Under Management Total Assets under Management: +12.4%/31 December bn Private Banking and Cortal Consors Net asset inflow 17.0bn Performance effect. Exchange and others 25.4bn Asset Management Insurance In billions of euros 31 December June 2005 Total assets under management, excluding cross-selling between the business lines within AMS: 324.3bn as at 30 June 2005 compared to 292.1bn as at 31 December 2004 Results Asset Management and Services 60

61 AMS: Breakdown of Assets under Management 31/12/04 30/06/05 Monetary 31% Bonds 31% Monetary 30% Bonds 29% Equity 15% Diversified 10% Structured, alternative & index-based 13% Equity 17% Diversified 9% Structured, alternative & index-based 15% Results Asset Management and Services 61

62 Corporate and Investment Banking 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income 1, % +0.1% 3, % Operating Ex penses and Dep % -1.0% -1, % Gross Operating Income % +1.7% 1, % Prov isions 50 n.s. +6.4% 97 n.s. Operating Income % +2.0% 1, % Associated Companies -1 n.s. n.s. 1 n.s. Other Items 26 n.s % % Pre-Tax Incom e % +3.2% 1, % Cost / Income 57.7% -1.6 pt -0.6 pt 58.0% -1.6 pt Allocated Equity (Ebn) % Pre-Tax ROE 34% +2 pt Results Corporate and Investment Banking 62

63 Financing Businesses 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income % +15.8% 1, % Operating Ex penses and Dep % +7.7% % Gross Operating Income % +21.6% % Prov isions 50 n.s. +6.4% 97 n.s. Operating Income % +19.9% % Other Items % +80.0% % Pre-Tax Income % +20.6% % Cost / Income 38.7% -3.4 pt -2.9 pt 40.0% -2.6 pt Allocated Equity (Ebn) % Results Corporate and Investment Banking 63

64 Advisory and Capital Markets 2Q05 2Q05 / 2Q05 / 1H05 1H05 / In millions of euros 2Q04 EU-IFRS 1Q05 1H04 EU-IFRS Net Banking Income % -10.3% 1, % Operating Ex penses and Dep % -4.4% -1, % Gross Operating Income % -23.6% % Prov isions 0 n.s. n.s. 0 n.s. Operating Income % -23.6% % Associated Companies -1 n.s. n.s. 1 n.s. Other Items 17 n.s % % Pre-Tax Income % -21.1% % Cost / Income 73.9% +2.9 pt +4.5 pt 71.5% +0.7 pt Allocated Equity (Ebn) % Results Corporate and Investment Banking 64

65 Total VaR (1 day-99%) by Type of Risk Commodities Change and others Equities Interest Rate Credit Netting Average VaR In mn Inclusion in 4Q03 of "credit" risk, previously included and netted in "interest rate" risk (Diagram: last market trading day of the period) Results Corporate and Investment Banking 65

66 BNP Paribas Capital 2Q05 2Q04 1Q05 1H05 1H04 In millions of euros EU-IFRS EU-IFRS Net Banking Income Operating Ex penses and Dep Gross Operating Income Prov isions Operating Incom e Associated Companies Other Items 51 * Pre-Tax Income Allocated Equity (Ebn) * Carbone Lorraine capital gains ( 52mn) booked as gains on the disposal of an associated company Estimated value of the portfolio as at 30 June 05: 4.3bn ( 3.8bn (1) as at 31 Dec. 04) Unrealised capital gains as at 30 June 05: 1.3bn (1.3bn (1) as at 31 Dec. 04) (1) data restated in IFRS-EU Results BNP Paribas Capital 66